All businesses and companies running in India must have GST Registration or should get a New GST Registration if they are eligible and exist to pay goods and services tax, that is “GST”. In short, the GST (Goods and Service Tax) has taken the place of all the indirect taxes. Popular name as a value-added tax levied on all goods & services sold, import & export for domestic consumption.
It’s imposed on all the stages, right from the stage of manufacturing to the final consumption, with credit for tax paid at earlier stages. It came into existence on July 1, 2017 as an indirect tax, which includes the previous different taxes like value-added tax. There is a regulatory body called the GST Council, which sets tax rates, rules, and regulations for goods and services taxes.
The members are the finance minister of central and all the state. The GST registration in Chandigarh have simple process to register. GST Registration is an all-in-one tax that has subsumed the state (VAT, Entertainment Tax, Luxury Tax, Octroi) and central taxes (GST, Service Tax, Excise Duty). The entire process of Online GST Registration is done on an online basis and there is no manual intervention by the individual to go and submit the documents; all the documents are submitted online.
GST is a multi-stage, destination-based tax levied on value addition. Let us understand it with an example. If the product is produced in Delhi and consumed in the state of Haryana, then the entire revenue will go to Haryana instead of Delhi. We can talk about the small taxpayer with a turnover of less than Rs. 1.5 crore (Rs. 75 lakhs for the Special Category States) can opt for the composition scheme. They can opt for the composition scheme to get rid of the GST returns on a monthly basis and opt for a quarterly return and pay the GST at a fixed rate of turnover.
The Composition Scheme under GST registration process has been for the small taxpayers for their ease of doing the business. The Registered persons under this scheme only have to pay the Quarterly returns and not the monthly returns and they can also easily maintain their books of accounts by the help of Professionals of LegalPillers which are providing CA Services Online or Income Tax Consultants all over India. Following is the Eligibility Criteria to opt for this scheme: Firstly, should have GSTIN and must be a registered taxpayer Secondly, having the Annual Turnover less than 1.5 crore Last, all the Manufacturers of Goods, Dealers, and Restaurants (Not Serving Alcohol) can opt for this scheme.
GST Certificate with ARN Code
GST Invoice Formats
Current account opening assistance
GST HSN code list and TAX rates
Simple and Least Compliances
Registration under GST cuts down all the indirect tax into one. Its registration has become user-friendly. The taxpayers have to pay a single indirect tax that is GST. No additional compliance and processing. Simple form completion and submission.
Reduce the Burden of Tax
Online GST Registration helps decrease the tax burden on small scale industries and business by giving a single indirect tax all over India. The GST Registration process is much easier and GST Registration fees is also less.
Get Input Tax Credit
Sellers, Dealers, and traders register under GST can demand input tax credit already paid on purchases.
GST certification has provided a major advantage for the e-commerce website because without a GST registration number no one can start an online E-Commerce business. For example snap deals, Nykaa, club factory Myntra, etc. It must have New GST Registration before starting his business.
The decline of the tax burden has shown to enhance the consumption level. As we know that when the price drops down the consumption rises. This is the precise situation where the tax rates have declined and as a result consumption level has risen. This, in turn, will increase productivity and heighten the economy in the long run.
Who can apply for New GST Registration?
Companies or businesses engaged in the buying and selling and good of services have to apply for a GST Certificate. It is necessary for businesses whose turnover is higher than Rs.20 lakhs for the supply of services and Rs. 40 lakhs for the supply of goods annually to register for a GST. There are various applicants who are eligible to Registration under GST:
Individuals who are enrolled under Pre-GST law i.e. Excise, VAT, Service Tax have to apply registration under GST.
For goods providers, if your sales turnover is more than rs.40 lakh annually. For states special category the limit is Rs.20 lakh every year they have to take Online GST Registration.
If you are a service provider sales turnover is more than Rs. 20 lakh for the state’s Special Category, the limit is Rs. 10 lakh in a year.
Taxable person & Non-Resident Taxable person (NRI) have to get GST Registration Online.
Agents of Suppliers or Input Service Distributor (ISD) plus they get benefits of Input Tax Credit.
People paying taxes under the Reverse Charge Mechanism.
People who supply by e-commerce aggregator
The person supplying online data and database access from a place outside India to a person in India.
All the E-Commerce Portals & Sellers are basically online stores. For example Amazon, Snap deal, etc.
Inter-State supplier of goods i.e. if you are a supplier of goods and service in more than one
Note: The States Special Category under the GST Act are:
All the businesses and companies in India use to pay different indirect taxes. The GST Registration online is the sum of all the indirect taxes. So, this is quite simple for all. Here are various reasons to choose us for GST compliance:
Easy GST Registration process and easy delivery of GSTIN Number
Lower GST Registration fees
Simple document required for GST registration
All legal experts are there to meet your queries, work towards easing the process just for you.
Also, works on providing GST Return filing duly.
Timely completion of a process filing your returns to avoid late penalties
Even the GST gov. portal is user-friendly. But filling it forms a complicated field. Being an applicant is harsh to understand different words. So, here to work for you. We have a complete team of professionals in filling GST forms and submitting your application on the GST portal. Making your Registration under GST successful and GSTIN number delivered.
PAN of the Applicant
Bank Account statement/Cancelled cheque
Photograph of the Applicant
Pan card of the Company
Aadhaar card of all the Directors
Proof of business registration or Incorporation certificate
Bank Account Details
Address proof of the location of the business/ company
Letter of Authorization/Board Resolution for Authorized Signatory
ID and Address proof of Promoters/Director with Photographs
Pan Card of the partnership
Aadhaar card of all the Partners
Bank Account Details
Partnership Deed/ LLP Certificate